savkhara:
savkhara-,
N.m.: conditioned thing, world of phenomena. The meaning of this word is
very wide, here we will use "conditioned thing". It comprises the entire
world around us, including ourselves. Nom.Pl. = savkhara.

This verse consists of two syntactically
separate sentences. They are: 1) sabbe savkhara
anicca ti yada
pabbaya passati atha nibbindati dukkhe
(when one perceives with wisdom that all conditioned things are impermanent,
then one turns away from suffering). This can be further analysed into
two sentences a) and b): a) sabbe savkhara
anicca ti yada
pabbaya passati (when one perceives with
wisdom that all conditioned things are impermanent). This sentence consists
of the main sentence II) and the direct speech I): I) sabbe savkhara
anicca ti (that all conditioned things
are impermanent). The subject is the noun savkhara
(conditioned things, nominative plural). It has an attribute, the adjective
sabbe (all, nominative plural). The verb is omitted, implying the
verb "to be". The object is the adjective anicca
(impermanent, nominative plural). The particle ti (end of the direct
speech) connects this clause to the main sentence. II) yada
pabbaya passati (when one perceives with
wisdom). The subject is omitted; the verb implies the third person singular
pronoun. The verb is passati (sees, 3rd person, singular,
active, indicative, present tense). It has an attribute, the noun pabbaya
(with wisdom, instrumental singular). The relative adverb yada
(when) connects this sentence to the following one. b) atha nibbindati dukkhe (then
one turns away from suffering). The subject is omitted; the verb implies
the third person singular pronoun. The verb is nibbindati (turns
away from, 3rd person, singular, active, indicative, present
tense). The object is the noun dukkhe (from suffering, locative
singular). The adverb atha (then) connects this sentence to the
previous one. 2) esa maggo visuddhiya
(this is the path of purification). The subject is the pronoun esa
(this, nominative singular). The verb is omitted, implying the verb "to
be". The object is the noun maggo (path, nominative singular). It
has an attribute, the noun visuddhiya
(of purification, genitive singular).

Commentary:

Once a group of monks obtained a subject
of meditation from the Buddha. They went to the forest and practiced meditation.
However, they made a little progress. Therefore they returned to the Buddha
and asked him for another subject of meditation. The Buddha reflected that
due to their past lives they were ready to perceive the impermanence of
things. He told them this verse and advised them to meditate on its meaning.